Text Analytics; Search Fractures Identified
June 23, 2008
A quite interesting essay by Frank Diana popped into my news reader. Mr. Diana’s essay “The 4th Annual Text Analytics Summit” is here. The most interesting part of his summary of the conference is this list:
- Fraud detection
- Voice of the Employee, Customer, Community and Market
- Patient Safety, Drug Discovery, Clinical Analysis
- Law Enforcement, Intelligence Analysis
- Litigation Support / eDiscovery
- SOX Compliance, Corporate Governance
- Investment Analysis
- Marketing Campaign Analysis, Advertising Analysis
- Claims Analysis, Warranty Analysis
- Product Innovation
- Reputation Management
- Intelligent Messaging.
Mr. Diana suggests that these are areas in which text analytics will play a role. I agree, but I would like to offer several observations.
Each of these niches require tailored components to address the specific information requirements of each market. Some functions will be common such as entity extraction and email threading. Other requirements will be highly particularized such as those for law enforcement, financial applications, and health and medical applications.
The list underscores why “one size fits all search and content processing systems” continue to disappoint many users. In an organization, each user needs a particular type of information under different circumstances. Some of these may be predictable because a work process requires that an employee have access to information about a customer’s history with the company. Other information needs may be unpredictable, so interfaces and access methods have to be tailored to meet these needs.
In theory, an information platform can be customized to meet the needs of a group of users or a single user. In reality, the cost and complexity of building personalization from a common framework may tax an organization’s resources. To economize, a “good enough” system is provided. Users find the system disappointing. This situation triggers more spending and creates an inefficient information environment.
What this list suggests is that the type of laser focus that some vendors are bringing to specific markets may be the key to success in the highly competitive text processing market. Agree or disagree? Let me know via the comments section of this Web log.
Stephen Arnold, June 23, 2008
Comments
2 Responses to “Text Analytics; Search Fractures Identified”
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Hey Stephen,
This list is part of a blueprint for leveraging text analytics to create business value. While many organizations are using the technology to analyze survey verbatims and call center notes, I believe there is untapped value that over time is realized. We’re seeing companies applying text analytics to address a specific problem. Once addressed, they look for other places to use the technology.
I agree with your assessment. Thanks for commenting on my short write-up.
Regards
Frank Diana
Frank, I know everyone is busy. I appreciate your taking the time to comment.
Stephen Arnold, July 4, 2008